I do like the mobile design. Clear nice view of content. I even thought of making it my main theme after I "IP.Content" the rest of my community :D That being said, I hope to bring up one suggestion:

• As you are redesigning the "View New Content" area anyway, please include the Watched Items there. Or the extended informations I am always suggesting here (hope not to annoy anyone of you with that :D), the Show Items I am most likely interested in (subscribed threads, new posts in read threads etc.)

Watching the design is a pleasure, you can see that the main developer uses a mobile device to read and write on this webpage and therefore has an interest in accomplish that easily :)

And another suggestion: Put all in one line: Sign In, Register, .....

By the way: Did I mention that this theme is great? :D